EchoStar (NASDAQ: SATS) defers $183M interest while awaiting $20.25B AT&T proceeds

Q: What did EchoStar (SATS) disclose about its June 1, 2026 interest payments?

EchoStar disclosed it elected not to make about $183 million in cash interest payments due June 1, 2026 on DISH DBS notes. This deferral covers three note series and constitutes a default under their indentures, subject to a 30-day grace period.

Q: How is the $183 million interest deferral by EchoStar (SATS) allocated across the DBS notes?

The deferred interest totals about $183 million , consisting of $72.2 million on 5.25% secured notes due 2026, $71.9 million on 5.75% secured notes due 2028, and $38.4 million on 5.125% unsecured notes due 2029 issued by DISH DBS.

Q: Why did EchoStar (SATS) choose not to pay the June 1, 2026 interest on its DBS notes?

EchoStar chose not to pay the interest to defer liquidity utilization while awaiting about $20.25 billion in net closing proceeds from pending AT&T transactions. The company links the deferral directly to preserving cash ahead of those expected proceeds.

Q: How large are the expected AT&T transaction proceeds mentioned by EchoStar (SATS)?

EchoStar references expected net closing proceeds of about $20.25 billion from its AT&T transactions. The company indicates it is deferring the DBS notes interest payments while waiting for these proceeds, which are still contingent on final regulatory and closing conditions.

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

8-K

Rhea-AI Filing Summary

EchoStar Corporation elected not to make approximately $183 million in cash interest payments due on June 1, 2026 on its DISH DBS subsidiary’s secured and unsecured notes. The missed payments cover $72.2 million on 5.25% notes due 2026, $71.9 million on 5.75% notes due 2028 and $38.4 million on 5.125% notes due 2029.

Under the DBS Notes indentures, this non-payment is a default but is subject to a 30-day grace period before it becomes an Event of Default. EchoStar chose to defer these payments to preserve liquidity while awaiting approximately $20.25 billion of net closing proceeds from its pending AT&T transactions, which have received DOJ and FCC approvals, with the FCC approval still requiring the FCC’s order to become final and other closing conditions to be satisfied or waived.

Insights

EchoStar is preserving cash by deferring a large interest payment, increasing near-term default risk on DBS notes.

EchoStar did not pay about $183 million of interest due on DISH DBS notes across 2026, 2028 and 2029 maturities. Under the indentures this counts as a default, and the company has a 30-day grace period before it escalates to an Event of Default on these securities.

The company links this decision to liquidity management while it awaits net closing proceeds of $20.25 billion from pending AT&T transactions. Those deals already have approvals from the DOJ and FCC, but the FCC approval must become final and other closing conditions, described in prior disclosures, still need to be satisfied or waived.

From a credit viewpoint, the filing highlights short-term liquidity pressure at the DBS level, partially offset by the prospect of very large transaction proceeds if the AT&T deals close. How EchoStar handles the interest within the grace period, and whether the AT&T transactions close as described, will shape outcomes for DBS noteholders.

8-K Event Classification

2 items: 2.04, 9.01

2 items

Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation Financial

An event triggered acceleration or increase of an existing financial obligation, such as a debt covenant breach.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Deferred interest payments: $183 million Interest on 5.25% notes due 2026: $72.2 million Interest on 5.75% notes due 2028: $71.9 million +3 more

6 metrics

Deferred interest payments $183 million Cash interest on DISH DBS notes due June 1, 2026

Interest on 5.25% notes due 2026 $72.2 million Portion of deferred DBS notes interest

Interest on 5.75% notes due 2028 $71.9 million Portion of deferred DBS notes interest

Interest on 5.125% notes due 2029 $38.4 million Portion of deferred DBS notes interest

AT&T transaction net proceeds $20.25 billion Expected net closing proceeds referenced for liquidity

Grace period length 30 days Time before default becomes Event of Default on DBS notes

Key Terms

Event of Default, grace period, secured notes, unsecured notes, +2 more

6 terms

Event of Default financial

"before such non-payment constitutes an Event of Default (as such term is defined in the DBS Notes Indenture)"

An event of default is a specific breach of a loan or bond agreement—such as missed payments or breaking agreed rules—that gives lenders the legal right to act, for example by demanding immediate repayment, seizing collateral, or accelerating other obligations. For investors, it’s a red flag because it can sharply reduce a company’s ability to operate or raise money, like a car lender repossessing a vehicle after missed payments, and often leads to falling share or bond prices.

grace period financial

"we have a 30-day grace period to make the Interest Payments before such non-payment constitutes an Event of Default"

A grace period is a short, pre-agreed span of time after a payment, filing, or other obligation is due during which a company or individual can meet the requirement without being penalized or declared in default. Think of it as a temporary breathing room that prevents immediate consequences for a missed deadline. Investors care because grace periods affect when cash flows are actually received, how soon penalties or defaults can hit, and the apparent credit risk and stability of an issuer.

secured notes financial

"5.25% secured notes due 2026 (the “2026 Notes”), 5.75% secured notes due 2028 (the “2028 Notes”)"

Secured notes are loans issued as tradable bonds that are tied to specific assets—like a mortgage is tied to a house—so if the borrower can’t pay, holders have a legal claim on that collateral. For investors this usually means lower risk and higher chance of recovering money in a default, but returns tend to be smaller than for unsecured debt and the real safety depends on the value and legal strength of the pledged assets.

unsecured notes financial

"5.125% unsecured notes due 2029 (the “2029 Notes, and collectively with the 2026 Notes and the 2028 Notes, the “DBS Notes”)"

Unsecured notes are loans a company issues to investors that are backed only by the issuer’s promise to pay, not by specific assets like buildings or equipment. Like an IOU without collateral, they usually pay interest but rank below secured creditors if the company fails, so they carry higher risk and often offer higher yields; investors watch them for credit strength, interest payments and recovery prospects in a default.

Emerging growth company regulatory

"Emerging growth company"

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

net closing proceeds financial

"pending the receipt of net closing proceeds of $20.25 billion from the AT&T Transactions"

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Understanding 8-K Material Events →

06/01/2026 - 08:21 AM

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 1, 2026

ECHOSTAR CORPORATION

(Exact name of registrant as specified in its charter)

001-33807
(Commission File Number)


Nevada		26-1232727
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

9601 South Meridian Boulevard
Englewood, Colorado		80112
(Address of principal executive offices)		(Zip code)

(303) 723-1000
(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Class A common stock, $0.001 par value	SATS	The Nasdaq Stock Market L.L.C.

HUGHES SATELLITE SYSTEMS CORPORATION

(Exact name of registrant as specified in its charter)

333-179121

(Commission File Number)


Colorado		45-0897865
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

9601 South Meridian Boulevard
Englewood, Colorado		80112
(Address of principal executive offices)		(Zip code)

(303) 723-1000

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act: None

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:



☐		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.04.	Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.

EchoStar Corporation (“EchoStar”) has elected not to make approximately $183 million in cash interest payments due on June 1, 2026 (the “Interest Payments”) with respect to its DISH DBS Corporation (“DDBS”) subsidiary’s 5.25% secured notes due 2026 (the “2026 Notes”), 5.75% secured notes due 2028 (the “2028 Notes”) and 5.125% unsecured notes due 2029 (the “2029 Notes, and collectively with the 2026 Notes and the 2028 Notes, the “DBS Notes”) comprised of approximately $72.2 million under the 2026 Notes, $71.9 million under the 2028 Notes and $38.4 million under the 2029 Notes. Under each of the indentures governing the DBS Notes (the “DBS Notes Indentures”), such non-payment is a default and we have a 30-day grace period to make the Interest Payments before such non-payment constitutes an Event of Default (as such term is defined in the DBS Notes Indenture) with respect to the DBS Notes.

EchoStar elected not to make the Interest Payments on the due date to defer liquidity utilization pending the receipt of net closing proceeds of $20.25 billion from the AT&T Transactions (as defined in EchoStar’s SEC filings). The AT&T Transactions have received regulatory approvals from both the Federal Communications Commission (FCC) and the Department of Justice (DOJ); however, the FCC’s approval remains subject to the FCC’s order becoming final. Consummation of the AT&T Transactions remains subject to the satisfaction or waiver of certain other closing conditions as described in EchoStar’s Current Report on Form 8-K filed on August 26, 2025.

Item 9.01. Financial Statements and Exhibits.


Exhibit No.	Description
Exhibit 104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



	ECHOSTAR CORPORATION HUGHES SATELLITE SYSTEMS CORPORATION
Date: June 1, 2026	By:	/s/ Dean A. Manson
		Dean A. Manson Chief Legal Officer and Secretary

Source: View Original Filing on SEC EDGAR

FAQ

What did EchoStar (SATS) disclose about its June 1, 2026 interest payments?

EchoStar disclosed it elected not to make about $183 million in cash interest payments due June 1, 2026 on DISH DBS notes. This deferral covers three note series and constitutes a default under their indentures, subject to a 30-day grace period.

How is the $183 million interest deferral by EchoStar (SATS) allocated across the DBS notes?

The deferred interest totals about $183 million, consisting of $72.2 million on 5.25% secured notes due 2026, $71.9 million on 5.75% secured notes due 2028, and $38.4 million on 5.125% unsecured notes due 2029 issued by DISH DBS.

Does EchoStar’s missed interest payment on DBS notes immediately create an Event of Default?

No. EchoStar’s non-payment is a default under the DBS notes indentures but there is a 30-day grace period to make the interest payments. Only if unpaid after that period would it constitute an Event of Default for the DBS notes.

Why did EchoStar (SATS) choose not to pay the June 1, 2026 interest on its DBS notes?

EchoStar chose not to pay the interest to defer liquidity utilization while awaiting about $20.25 billion in net closing proceeds from pending AT&T transactions. The company links the deferral directly to preserving cash ahead of those expected proceeds.

What is the status of EchoStar’s AT&T transactions referenced in the 8-K filing?

EchoStar states the AT&T transactions have received approvals from the FCC and DOJ. However, FCC approval remains subject to the FCC’s order becoming final, and the deals still require satisfaction or waiver of additional closing conditions described in earlier disclosures.

How large are the expected AT&T transaction proceeds mentioned by EchoStar (SATS)?

EchoStar references expected net closing proceeds of about $20.25 billion from its AT&T transactions. The company indicates it is deferring the DBS notes interest payments while waiting for these proceeds, which are still contingent on final regulatory and closing conditions.

Filing Exhibits & Attachments

4 documents

EchoStar (NASDAQ: SATS) defers $183M interest while awaiting $20.25B AT&T proceeds

Rhea-AI Filing Summary

Positive

Negative